Factory Girls want to put the Southeast on fashion map | A&E Feature | Creative Loafing Atlanta
Neither company breaks out China sales. About a quarter of fiscal 2014 sales at Cie. Financiere Richemont SA (CFR) , owner of tony brands such as Cartier and Piaget, came from China and Hong Kong. A record number of luxury brands approached website Glamour Sales China this year about running flash sales online events held over a few days, said Chief Executive Officer Thibault Villet. The Shanghai-based Frenchman quit as Coachs president for Greater China in 2009 to start the website, which sells off-season products from Fendi, Tods, Dolce & Gabbana , and other luxe brands to its 4million Chinese members. Hidden Events In the past few months, weve signed deals for the first time with brands that didnt work with us for the previous four years, said Villet, who also introduced hidden events this year, restricted to VIP customers and catering to brands that didnt want public sales to tarnish their image. Some recent rounds of discounting have been low-profile, with word of private sales conveyed to regular customers through personal mail, text messages to their mobile phones, or popular online messaging apps such as Tencent Holdings WeChat.
And steep import and consumption taxes on luxury goods bought in China have led an increasing number of wealthy locals to shop more while overseas. More from Bloomberg.com: Hook-Up Culture at Harvard, Stanford Wanes Amid Assault Alarm Left with stacks of unsold merchandise in their mainland stores, high-end brands are resorting to something they rarely had to do earlier: price-cutting. "Even during the financial crisis, I don't think we saw this amount of discounting," said Franklin Yao, managing partner of Shanghai-based SmithStreet, which advises companies on their China strategies. "Inventory has become an issue for brands across the board, and this is a big problem." More from Bloomberg.com: India to Unveil First Warship to Deter Chinese Submarines Slower Spending Consultancy Bain estimates that Chinese purchased a third of all luxury goods sold globally in 2013, but growth in luxury spending in mainland China will slow to 2 percent this year after rising gorden di solo 30 percent in 2011, it forecasts. Christian Dior SA (CDI) and Ermenegildo Zegna Group both held sales at their China stores in July, with Milan-based Zegna cutting as much as 40 percent off menswear, leather items, and shoes.
China Fashionistas Get Best Deals on Gucci, Hermes Bling - Yahoo Finance
With the dirth of brands fighting for a stake in the space, and the demand for goods overpowering the supply , its interesting to see which luxury handbag brands are keeping up despite the madness. In a report done by Fashionista in conjunction with online consignment start-up TheRealReal , they identified the top selling handbag designers broken down by city. Their findings do a great job of identifying what brands are trending around the country, and while most of the report is pretty predictable there were a few surprises. Click on the next pages to see which brands reign in cities like New York, San Francisco, Miami and more! 1
The Best-Selling Luxury Handbag Designers In Each Major City | StyleBlazer
In 2013 Thurnher and Weir joined forces thanks to Weir's brother, who instigated the introduction. The women became fast friends who now call each other "wifey" and even tote around the same leather handbag. Weir was managing her family's manufacturing and linen service company and looking to open a boutique with her husband. Meanwhile, Thurnher was consulting and styling local designer Abbey Glass 's line.